FTX and its affiliated debtors have made significant strides toward implementing their Chapter 11 Plan of Reorganization, which is projected to be operational by January 2025. This plan aims to establish structured distributions for creditors and customers affected by the firm’s tumultuous downfall. In an announcement detailing their progress, FTX outlined key milestones that will
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In a landmark development for the digital asset industry, a federal court has invalidated the Securities and Exchange Commission’s (SEC) dealer rule, marking a significant victory for crypto advocates and a setback for regulators. The U.S. District Court for the Northern District of Texas ruled on November 21 that the SEC had overstepped its statutory
In the ever-evolving landscape of the cryptosphere, few stories stand out as compelling as that of Samuel Edyme, widely known by his moniker, HIM-buktu. A multifaceted individual thriving in the realm of web3, Edyme is more than just a content writer; he is a journalist and an aspiring trader whose journey reflects a deep-rooted resilience
Gary Gensler’s announcement to resign from his position as Chairman of the U.S. Securities and Exchange Commission (SEC) on January 20, 2025, marks a significant transition not only for the Commission but also for the regulatory landscape of the financial markets. Gensler, who has held this pivotal role since April 2021, recently expressed his appreciation
In the realm of cybersecurity, few incidents have sent shockwaves through the digital currency world like the infamous Upbit cryptocurrency heist of 2019. This heist led to the theft of a staggering $50 million worth of Ethereum (ETH) and was executed by notorious North Korean hacking groups, including Lazarus and Andariel. These groups operate under
In a significant move that could reshape the landscape of cryptocurrency regulation in the United States, the former Commodity Futures Trading Commission (CFTC) chair Chris Giancarlo—dubbed “Crypto Dad”—is being considered to take on the role of the nation’s inaugural “crypto czar.” As reported by Fox Business on November 21, this position is being crafted under
In an unprecedented legal maneuver, the Southern District of New York Bankruptcy Court has sanctioned Celsius Network’s unconventional approach to serving legal notices through non-fungible token (NFT) airdrops. As the cryptocurrency platform grapples with insolvency, it is embroiled in the complex task of recovering assets allegedly misappropriated through fraudulent digital transfers. With traditional methods of
Ethereum, the world’s second-largest cryptocurrency by market capitalization, has recently experienced a period of consolidation. After reaching a four-month high of $3,420, the price has largely stalled, leaving many investors wondering about its potential trajectory. This phenomenon is particularly notable given Ethereum’s historical correlations with Bitcoin, whose price movements often significantly influence other cryptocurrencies. However,
On November 21, 2023, Sui Network, a prominent Layer 1 blockchain, found itself thrust into the spotlight due to a significant operational disruption. The network experienced an unsettling period of downtime that lasted approximately two hours, during which it was unable to produce blocks. This substantial hiccup raised alarms in the crypto community, given the
Since its launch in early 2023, My Neighbor Alice (MNA) has established itself as a leading player in the blockchain-based metaverse gaming landscape. This burgeoning platform combines elements of traditional gaming with innovative blockchain technology, allowing players to explore, build, and engage with a vibrant virtual world. However, the creators of MNA, led by business